Republic Acts1 min read
Section 3Sec./Art. 3
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Term of Franchise. - This franchise shall be for a term of twenty-five (25) years from the date of effectivity of this Act unless sooner revoked or cancelled. The grantee shall secure from the Department of Environment and Natural Resources, the Department of Land Reform and such other government agencies concerned the necessary environmental compliance certificate and other permits for the construction of its racetrack within three years from the effectivity of this Act. The grantee shall commence operation within three years from the start of such construction.
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